2020 Bulkers has extended the time charter for Bulk Shanghai with ST Shipping, a fully owned subsidiary of Glencore for a period of 6-8 months from 4 October 2020.
The vessel will from 4 October 2020 earn a fixed rate of USD 18,000 per day, gross, as well as share of the fuel savings generated from the scrubber.
Magnus Halvorsen, CEO of 2020 Bulkers Management AS says: “We are pleased to further develop our good relationship with Glencore. The extended time charter for Bulk Shanghai secures cash flow through the first quarter of 2021 at a level above our average operating cash breakeven which is estimated at approximately USD 14,000 per day for 2021”.
Source: 2020 Bulkers